The social media market used to be fun to watch. A palpable excitement pervaded it, as rapid growth turned the likes of Facebook, Twitter and many others into household names. Enormous venture capital deals were cut – not that the recipients need the money. It looks like many were taking periodic cash-outs instead of having to wait for the big day.

Facebook employees are about to find out what turned their boss on about a billion dollars. The company is looking to unload around $1 billion in employee-owned stock, as the worker bees who have sacrificed cash for years look for a bit of upside. And, Facebook is doing it in style.

The social media company is looking to help its devoted employees cash out of some shares at a valuation of $60 billion … that’s “cool” 60 times over. It’s also a 20 percent jump over the company’s previous valuation of $50 billion.

Okay, you’re not going to find out here. Instead, head over to the guest post I wrote on Scene by Laurie, exploring how travel bloggers can fall victim to niche audiences that generate plenty of social media chatter but never really click through. If you are over-reliant on Twitter or Facebook for traffic, this is the downside to which you’re exposed. And yes, I do anchor it with a real world travel example.

As the date of a press trip approaches, itineraries are flying around, details are being finalized and media kits are assembled and distributed. Amid all of this, I’ve noticed over two and a half years of travel writing, there is no social media “kit” provided at the beginning of a trip … and it wouldn’t be hard to do. Look at the top of any itinerary: you see property and agency contact information. How hard would it be to include a Twitter account, too?

Hey, travel PR folks: in addition to thinking about the coverage you hope to secure in a magazine or on a blog after the trip has run its course, think about the incremental gains you could realize during the trip itself – especially for a group trip.

When you’re planning your next press trip, consider the following social media essentials:

Paul Ceglia says he owns 84 percent of Facebook. The guy, who really came out of nowhere, says he signed a contract with Mark Zuckerberg in 2003 that makes him the rightful owner. Facebook says it’s defending itself vigorously, which is the normal response to this kind of thing. A judge is taking this thing seriously.

Calling all social media-philes! If you’re in Manhattan tomorrow, stop by Two E, the bar at The Pierre (on the southeast corner of Central Park) to celebrate Social Media Day. Just stopping by will score you $18 carafes, with five flavors available to you. If you put your social media panache to work, you could get a little more.

Here’s the deal:

Somehow social media-ize the event: tweet it, blog it or slap something on your Facebook Wall